Not all good things come in beautiful packages. This is the economic consequence of creating a system that no one entity can fully control. Without a central backing, it's value cannot be manipulated and, therefore, the supply cannot increase equally with demand. This has the harsh consequence of facilitating excess reward mechanisms amongst early adopters.
I agree. It does sort of suck when you realize that the rich are again getting richer, but the point of Bitcoin, and crypto as a whole (minus the scams), is not to redistribute wealth, but rather, make finance open and permissionless. The question is, are the economic consequences of adoption worth the benefits of it's mainstream use? I, and many others, believe so.
I agree. It does sort of suck when you realize that the rich are again getting richer, but the point of Bitcoin, and crypto as a whole (minus the scams), is not to redistribute wealth, but rather, make finance open and permissionless. The question is, are the economic consequences of adoption worth the benefits of it's mainstream use? I, and many others, believe so.